Freshman in College Need Guidance on Whether to Transfer or Leave College

College Life
1

Hello,

I am currently a Freshman at University of Wisconsin Madison. I feel absolutely crushed about my college decision every single day due to the reality of its cost. I am an out of state student, therefore my tuition is roughly 32k in addition to housing. I work during school enough to cover all of my food expenses, personal products etc. My parents make roughly 100k a year combined. I did not receive many scholarships nor did I receive financial aid when I applied to colleges. Second semester is going to begin soon and I don’t know what I should do. I am planning on applying to the business school and majoring in Management Information Systems. The projected annual starting salary after graduation is roughly 70k, but I do understand that it is not definite. If I were to not come back for second semester and take classes at community college, I believe that it would be near impossible to gain admission to the business school (or any business school that would generally admit during the time of Sophomore standing). My parents took out a Parents Plus Loan in order for me to come here. They constantly tell me not to worry and that this is normal. After weeks and weeks of researching student loans, I realize that if I were to continue going to this school, I would be putting my parents and I in immense debt for the rest of our lives. I am looking at transferring to University of Illinois Urbana Champaign. For UIUC, tuition for me would range from 15k-20k in addition to room and board with an additional tuition increase for being in the school of business which is 8.5k. I don’t know if I would be considered for many scholarships either. Although I would be in state, my tuition would only have a 4k difference. I am sorry this post is so scatterbrained but I am losing my mind. If you can offer me any sort of guidance, please do so. Thank you.

2

Is there a public university within commuting distance to your parents home or relatives that you could live with?

3

Unfortunately, no

4

  1. Have you looked into applying to a private school that will provide you financial aid such as Wake Forest, Lehigh or Northeastern?

  2. SUNY Albany OOS tuition is $19,590

5

One thing to consider if you do transfer to UIUC is whether your credits would all come with you. If you might end up needing an extra semester or two to graduate, any cost savings would be wiped out.

6

The fact that you think about the cost every day is a definite sign that you need to make a change. This change may be to find out if there are jobs on or off campus --just helping your parents out might make you feel more empowered. If you absolutely love the program, perhaps you can cut costs by becoming an RA next year, or living off campus if there is a definite cost savings. College debt is being questioned by more and more families, and you are not alone-you are being a very considerate and practical young person. (More practical than many adults even!) In addition, don’t talk yourself out of entry into a business school -“it would be near impossible to gain admission to the business school (or any business school that would generally admit…”. There are many opportunities out there for those who are ambitious and persistent. Seek answers from guidance and other schools that you are interested in attending and base your opinions on sound evidence. Best wishes!